Merchants Bancorp (NASDAQ:MBINN) Sees Significant Increase in Short Interest

Merchants Bancorp (NASDAQ:MBINN) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,700 shares, an increase of 164.3% from the February 28th total of 1,400 shares. Based on an average trading volume of 10,900 shares, the days-to-cover ratio is currently 0.3 days.

Merchants Bancorp Stock Performance

Merchants Bancorp stock traded down $0.33 during midday trading on Friday, reaching $20.82. The stock had a trading volume of 3,396 shares, compared to its average volume of 8,361. Merchants Bancorp has a 52-week low of $18.95 and a 52-week high of $24.34. The company has a fifty day moving average of $21.75 and a 200 day moving average of $22.21.

Merchants Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend is Friday, March 14th.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.